Feb 22, 2017 (LBO) - Sri Lanka's BPPL Holdings Limited, (Beira Group), a leading brush manufacturer, will be entering the Colombo Stock Exchange next month with the offering of 30.69 million shares for 12 rupees per share.
One of the group’s three main shareholders, Hirdaramani Investment Holdings (Pvt) Ltd, will be divesting 10 percent of the shares for the Initial Public Offering, as a part of its long-term exit strategy.
The Beira Group will be ramping up its production through a 675 million rupee expansion, with funds generated internally and through borrowings, to produce synthetic yarn.
buy strattera online buy strattera online no prescription
The expansion will be complete by 2019 financial year which would allow the group to supply local apparel manufacturers as well.
The group made a net profit of 306.88 million rupees for FY16, up from 148.15 million rupees YoY, while the top line expanded to 2.09 billion rupees from 1.93 billion rupees YoY.
Their asset base was 2.31 billion rupees, increasing from 2.13 billion rupees in FY15.
The current shareholders are Infinity Capital (Pvt) Ltd., LOLC Investments Limited and Hirdaramani Investment Holdings with stakes of 50.3 percent, 26.3 percent and 13.4 percent of the shares in Beira Group respectively following the IPO, with the shareholding being locked in for a period of 1 year.
Around 70 percent of Beira Group’s sales are in the United States.
Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.
Subscribe
Login
0 Comments